FundedNext is a proprietary trading firm who have been developing for two and a half years before they decided it was the right time to go live. They have prepared funding options for traders worldwide while operating from four different locations.
- In development for 2.5 years before the launch
- Maximum balance of $4,000,000
- Profit split of 15% for evaluation stages
- Up to 90% profit split
- No restrictions on trading style
- Overnight and weekend holding allowed
- Scaling account option
- Leverage 100:1
- A large variety of trading instruments (forex pairs, commodities, indices)
- Consistency rule for express accounts
- Minimum trading days: 10
- New prop firm
Traders at FundedNext are encouraged to become successful in their trading careers. The main priority that they expect from their clients is that they are disciplined individuals who properly manage risk and focus on long-term consistency. This can be seen through the scaling plan they offer with a massive cap of $4,000,000. Traders are eligible to profit splits of 60% up to 90%, depending on the funding program options they choose. They can achieve these profits by trading forex pairs, commodities, and indices.
Who are FundedNext?
FundedNext is a proprietary trading firm incorporated on the 18th of March, 2022. They strive to provide their traders with a comfortable trading environment. To accomplish that, they have come up with two different funding models. They have offices located in the UAE, USA, UK, and Bangladesh while offering traders capital up to $4,000,000 with up to 90% profit splits. FundedNext is partnered with Eightcap as their broker.
Their headquarters are located in the United Arab Emirates at the following address: AI Robotics HUB, C1 Building, AFZ, Ajman, United Arab Emirates.
Funding program options
FundedNext is offering two different funding models to their community. You can choose between a two-step evaluation model and a one-step express model.
FundedNext’s evaluation model has the following five account sizes that traders can choose from:
- $15,000 for a one-time fee of $99
- $25,000 for a one-time fee of $199
- $50,000 for a one-time fee of $299
- $100,000 for a one-time fee of $549
- $200,000 for a one-time fee of $999
The evaluation model is a two-step challenge that every trader must undergo before receiving a real funded account.
Step-one has a profit target of 10% without breaching the 5% daily or 10% overall drawdown. You should also consider that your trading period consists of 30 days for step one, while you must trade a minimum of 10 days. You are eligible for a 15% profit split in step one of the challenge.
Step-two has a profit target of 5% without breaching the 5% daily or 10% overall drawdown. You should also consider that your trading period consists of 60 days for step two, while you must trade a minimum of 10 days. You are eligible for a 15% profit split in step two of the challenge.
After completing both evaluation stages, you receive a funded account of the same size as your evaluation. You also become eligible to profit splits of 80%, increasing up to 90%. Another positive feature is their 1:100 leverage with relaxed trading rules, meaning that you can use any trading strategy or style based on your personal preference.
FundedNext’s express model has the following four account sizes that traders can choose from:
- $15,000 for a one-time fee of $119
- $25,000 for a one-time fee of $229
- $50,000 for a one-time fee of $379
- $100,000 for a one-time fee of $699
The express model is a one-step challenge that every trader must undergo before receiving a real funded account.
Express model has a profit target of 25% without breaching the 5% daily or 10% overall drawdown. You should also consider that there are no maximum trading days limitations, the only time requirement is that you must trade a minimum of 10 days. You are eligible for a 15% profit split of the challenge.
After completing the evaluation stage, you receive a funded account of the same size as your evaluation. You also become eligible to profit splits of 60%, increasing up to 70% and ending at 90%. Another thing to consider is the consistency rule, which must be respected in the express funding model.
FundedNext also has a scaling-up plan for all of its funding models. Traders who are consistent throughout the time and who don’t violate any of the trading parameters are eligible to scale up their account balance. The requirement is a 10% account growth in four consecutive months in a real account. You must make two payouts during the four months and end your last month in profit. Every trader that meets the criteria will be eligible for a 40% balance increase with a cap of $4,000,000.
You can trade on MetaTrader 4 with 1:100 leverage while also being allowed to trade during news (on demo stages) and hold trades overnight and during weekends.
What makes FundedNext different from other prop firms?
FundedNext is different from most industry-leading prop firms due to having relaxed trading rules with almost no restrictions. For example, you can trade during news (on demo stages), hold trades overnight, and during weekends.
Compared to other proprietary trading firms, FundedNext offers a two-step evaluation model and a one-step express model with a relatively high leverage of 1:100. They also have a massive scaling plan with the potential to grow your account up to a balance of $4,000,000.
Evaluation accounts require completing a two-step challenge with profit targets of 10% in step one and 5% in step two. However, you must respect the 5% daily and 10% overall drawdown limits. There is also a 10-day minimum trading days rule while step one consists of a trading period of 30 days and step two a trading period of 60 days.
Express accounts require completing a one-step challenge with a profit target of 25%. However, you must respect the 5% daily and 10% overall drawdown limits. There is also a 10-day minimum trading days rule while there is no limitation for a maximum trading period.
In conclusion, getting funding from FundedNext can be acquired by many different strategies due to their relaxed trading rules with almost no restrictions. You should focus on fulfilling the profit target while not going below the daily floating drawdown and maximum floating drawdown.
Is getting FundedNext capital realistic?
It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.
After considering all of that FundedNext is a great firm to get funded with since you can get funded with a one-step or two-step evaluation challenge with the potential to scale your balance up to $4,000,000.
The express funding model has a profit target of 25% with 5% maximum daily loss and 10% overall loss limits. There is no maximum trading day period while the number of minimum trading days is 10.
The rules for their 2-step evaluation funding model are also realistic since you have to earn a profit target of 5% for step one and 10% for step two. However, you must respect the 5% maximum daily loss and 10% overall loss limits in both phases. Weekend holding, overnight holding, and news trading (on demo stages) are also allowed, which is excellent for day traders and swing traders.
FundedNext has been incorporated on the 18th of March, 2022. They have now been running for a month and two of their traders have already acquired profit shares.
You can see payment proof by clicking on the image below!
Which brokers does FundedNext use?
FundedNext has integrated its technology with a broker EightCap, an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, straightforward mission to provide exceptional financial services to its clients. They have five offices around the globe and regulations in multiple locations providing clients worldwide with the ability to trade on markets across FX, indices, commodities, and shares.
EightCap is considered average-risk, with an overall Trust Score of 73 out of 99. They have the following features:
- Forex Trading
- CFD Trading
- Cryptocurrency Trading
- Social Trading/Copy-Trading
- A total of 326 Tradeable Symbols
- A total of 45 Forex Pairs
They offer two account types, one being Raw and the other Standard. The commissions and fees will depend on which of the two you choose. Fees for Standard accounts are built into a spread and for Raw accounts into a commission. Another fee you should always consider is the overnight fee, which is an interest for holding an open position overnight in trading.
They deliver a personalized trading experience and create an ultra-efficient technology infrastructure for you to trade on and have been awarded the Best Global Forex MT4 Broker 2020 at the Global Forex Awards for doing so.
As for trading platforms, you can use MetaTrader 4.
FundedNext allows you to trade forex pairs, commodities, and indices with a 1:100 leverage.
Education & Support for traders
FundedNext does not provide any educational content on its website.
On the other hand, they have a thread about them on Forex Factory to discuss details about the firm and the features they provide to other users.
Another thing FundedNext provides to its traders is a well-structured dashboard that all of its clients can access, making it easier to manage risk with all the objectives of their statistics.
Traders comment about FundedNext
FundedNext has excellent reviews from its community.
On Trustpilot, they have a rating of 4.5/5 from 124 reviews. This is mostly due to the fact that they have been launched on the 18th of March, 2022, and are operating only for a month.
FundedNext’s community mostly praises their responsive customer support team and the smoothness of their well-structured dashboard.
Social media statistics
FundedNext can also be found on social media.
They have a:
- Facebook page with 10,219 followers,
- Twitter account with 210 followers,
- Instagram account with 5,250 followers, and
- Youtube channel with 20 uploaded videos and 1,19k subscribers.
The support team is available on their social media, or you can directly contact them on their email firstname.lastname@example.org.
In conclusion, FundedNext is a new proprietary trading firm that can potentially compete with the leading firms in the industry based on what they are presenting themselves as. There is still information missing, for example, we will have to wait for more comments from traders about their legitimacy, and of course payment proof, which we will be adding when traders start getting funded.
FundedNext is offering traders an evaluation and express model funding programs. The evaluation model is a classic two-step evaluation, while the express model is a one-step challenge.
Compared to FTMO, E8 Funding, and True Forex Funds which all offer a two-step evaluation, FundedNext also has an express funding model, which is a one-step evaluation. the one express funding model has account sizes from $15,000 up to $100,000 with a potential to scale up to a balance of $4,000,000.
This review about FundedNext was lastly updated on 05.05.2022 at 14:30 (CE(S)T).
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